Allegacy Financial, a North Carolina credit union, is moving vendor, risk and compliance work to one AI platform, with staff still making the final calls.
Allegacy Financial, a North Carolina credit union with about $2.6 billion in assets and more than 188,000 members, is moving its risk and rule-checking work onto one AI-based platform from Kobalt Labs. The move was announced on Nov. 9, 2026.
Allegacy is replacing an older system. Vendor risk checks, company-wide risk tracking, compliance, business continuity and contract management are all moving to Kobalt. Chief Legal Officer Timothy Moore said the credit union had been managing a patchwork of separate modules. It chose Kobalt after looking at several options, hoping to cut manual reviews and admin work.
People stay in charge. Staff review the findings, make decisions and manage fixes in the same platform. The tool provides source citations and audit trails, which are records of what was done and why.
The announcement does not share the cost, the timeline for the move or any results. The claims come from the two companies. Kobalt says ORNL Federal Credit Union, InTouch Credit Union and Meriwest Credit Union also use its platform.
Allegacy is betting that one AI tool can cut review paperwork, but results and costs have not been shared.
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